According to a story on the “Nikki Asia” website from Sunday, the primary Canadian Retirement Fund intends to spend 70 billion Japanese yen, or $474 million, in the Japanese “Shezen Energy” company to produce sustainable energy.
According to the report, there is a rising need for environmental investment globally. As a result, if Japanese renewable energy companies can establish a solid reputation both at home and internationally, they will be able to draw funding for carbon abatement from all over the world.
The Canadian Retirement Fund will invest approximately 1 billion yen through the purchase of “Shezen Energy” company bonds that can be transferred in October, and 50 billion yen has been allocated as part of an investment framework for the Shizen Company to produce renewable energy in Japan and abroad. The Canadian Retirement Fund will also send a director to the board of directors of the Japanese Energy Company to help decide on the development projects that will be funded.
More than 6 million people’s pensions are managed by the Canadian Retirement Fund, which has net assets of about 420 billion Canadian dollars, or 308 billion dollars. The fund’s focus has shifted away from businesses engaged in crude oil production, and by 2025, it will invest 54 billion Canadian dollars in renewable energy projects.
After investing in businesses in the US, Europe, and India, the Canadian Fund will now be making its first direct investment in a Japanese infrastructure company.
The Japanese Energy Company was established in 2011, and it has developed projects that produce about 1 GB of renewable energy in Japan and abroad, including solar energy and wind energy, and plans to increase the energy it produces to 10 gigawatts, by 2030, including through Development of marine wind farms..
470 million dollars are invested in renewable energy by a Canadian pension fund.
About Author
